Analysts Set CarGurus, Inc. (NASDAQ:CARG) Price Target at $29.25

CarGurus, Inc. (NASDAQ:CARG) has received a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $29.25.

Several equities analysts have recently commented on the stock. Oppenheimer boosted their target price on shares of CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Royal Bank of Canada boosted their price target on shares of CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Needham & Company LLC raised their price objective on CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, August 9th. BTIG Research lifted their target price on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price target on CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, August 12th.

Insider Buying and Selling

In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the sale, the chief marketing officer now directly owns 128,952 shares in the company, valued at $3,664,815.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of CarGurus stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the transaction, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at $3,664,815.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Matthew Todd Quinn sold 3,978 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total transaction of $99,091.98. Following the completion of the sale, the chief technology officer now directly owns 217,374 shares in the company, valued at approximately $5,414,786.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,421 shares of company stock worth $1,567,354. Corporate insiders own 17.20% of the company’s stock.

Institutional Trading of CarGurus

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of CarGurus during the fourth quarter valued at approximately $32,000. CWM LLC boosted its holdings in CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after acquiring an additional 485 shares during the period. Nisa Investment Advisors LLC grew its position in CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after acquiring an additional 479 shares during the last quarter. Headlands Technologies LLC purchased a new stake in CarGurus in the first quarter worth $49,000. Finally, Point72 DIFC Ltd purchased a new stake in CarGurus in the second quarter worth $87,000. Institutional investors own 86.90% of the company’s stock.

CarGurus Stock Up 0.6 %

NASDAQ:CARG opened at $28.08 on Monday. The stock has a market cap of $2.93 billion, a PE ratio of 100.29, a P/E/G ratio of 1.41 and a beta of 1.57. The business’s 50-day simple moving average is $26.17 and its two-hundred day simple moving average is $24.43. CarGurus has a 52 week low of $16.70 and a 52 week high of $29.40.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. The company had revenue of $218.69 million for the quarter, compared to the consensus estimate of $214.85 million. Sell-side analysts anticipate that CarGurus will post 1.18 earnings per share for the current fiscal year.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.